How much do you need to make to live in downtown Toronto?

Based on the average cost of housing, transportation, groceries, internet bills and more, LowestRates.ca found that a single Torontonian needs a minimum salary of $49,545 before tax (or $38,572.68 after taxes) in order to survive in the city.

Is it expensive to live in downtown Toronto?

Living in Toronto, particularly anywhere near downtown, can be expensive. Rents are among the highest in Canada, and other standard monthly expenses such as phone plans, groceries, and transit are not cheap either. A pint of beer in Toronto can cost you between $7 and $10, depending on where you are.

How much rent should I pay Toronto?

According to Padmapper, a one bedroom in Toronto goes for an average of $2,260 per month, which is a 14.70\% increase year-over-year and the highest rental average in the country.

What are the most affordable neighbourhoods in Toronto?

To the northeast, you’ll find Malvern—one of the most affordable neighbourhoods in Toronto where you can still get a whole lot of value on a limited budget. Natural beauty is a big draw in this community, which is full of green space, woodland, and mature trees.

Is suburban living in Toronto a good place to live?

Suburban living isn’t all that bad. You have easy access to malls, plazas, wide open spaces and maybe even affordable housing, at least in comparison to downtown Toronto. The folks at TheRedPin, a real estate brokerage, crunched the numbers and ranked the best places to live when commuting downtown.

What are the best places to live when commuting to downtown Toronto?

You have easy access to malls, plazas, wide open spaces and maybe even affordable housing, at least in comparison to downtown Toronto. The folks at TheRedPin, a real estate brokerage, crunched the numbers and ranked the best places to live when commuting downtown.

Is there such a thing as cheap rent in Toronto?

Cheap rent in Toronto is a relative term. Where once $1,000 could secure you a nice, above-ground one bedroom apartment, now you’ll find plenty of basement bachelors listed above this benchmark. There are, however, some neighbourhoods that offer more bang for your buck than you’ll find elsewhere.